Organizers: COP28, High Level Panel for a Sustainable Ocean Economy, Marakesh Partnership for Global Climate Action
This high-level event will cast a spotlight on the Ocean and put forth country commitments towards the 100% Sustainable Ocean Management goal, and showcase tangible actions supporting implementation of the Ocean Breakthroughs. The event will be framed around the potential of ocean-based climate solutions to reduce the emissions gap between current and future emissions by up to 35 percent on a 1.5°C pathway, as well as to strengthen food security, energy capacity, and local livelihoods through enhanced climate action.
It will set the way for the blue ambition loop and a whole-of-society approach where the ocean is part of the solution - with key actors showing how this agenda will be taken forward in future years. This event positions the ocean at the heart of humanity's challenges securing a resilient, nature-positive, and net-zero future.
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To reach the scale that is needed and will put forward a Presidential agenda to showcase specific innovate approaches to close the finance gaps, especially where it is needed the most. This will include scaling up private financing for investing into climate transition to support inclusive as sustainable economic growth.
This thematic day at COP28 will focus on three key aspects: scaling up efforts, improving access, and enhancing affordability. This will involve reforms to the international financial system, the delivery of enhanced concessional support, the development of sustainable finance markets, and strengthening voluntary carbon markets. Additionally, COP28 will introduce trade as a means for climate-smart, equitable growth, including supply chain decarbonization, transition, and resilience.
We must also address the challenges that hinder financial support for women, girls, and marginalized groups. This includes ensuring a fair transition and finding solutions to broaden access to finance. The program will also examine accountability mechanisms to turn promises and ambition into tangible results.
The main objectives for this day are:
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